Little wonder that it has drawn such rampant demand. Launched in June, Yu’E Bao has in short order become China’s most successful money market fund. As of last month it had raised Rmb100bn, the first to reach that milestone.
因此,余额宝带来如此巨大的需求也就毫不奇怪了。自6月份上线以来,余额宝很快成为了中国最成功的货币市场基金。到上个月为止,余额宝已筹集了1000亿元人民币,是首只达到千亿级别的货币市场基金。
Behind the Yu’E Bao brand name stands Tianhong Asset Management, in which Alibaba bought a majority stake in October. Tianhong invests all the Yu’E Bao cash in money market funds, mainly consisting of interbank loans and some short-term debt securities, according to analysts. So the cash still largely ends up with banks, but rather than paying a government-controlled rate for it, they pay whatever is the going market price for money.
站在余额宝身后的那家基金公司是天弘基金管理有限公司(Tianhong Asset Management),今年10月阿里巴巴收购了该基金大部分股权。分析人士称,天弘将所有余额宝资金都投入了货币市场基金,主要包括银行间贷款及部分短期债务证券。因此,余额宝的现金大部分最终仍流入银行,不过这些现金的回报率是按照市场价格确定的,而不是按照由政府控制的利率确定。
It is, in other words, ushering in interest rate deregulation in a big way. This week’s spike in Chinese interbank rates in part reflects the growing competition for deposits. Given that regulators have been loosening their grip on interest rates but want to proceed in a gradual manner, the success of Yu’E Bao and other internet-based money market funds poses a big challenge to that strategy and could yet invite more scrutiny.
【阿里巴巴旗下余额宝不断吸引传统银行储户】相关文章:
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